PaysafeCard is a popular prepaid voucher payment system that allows Canadians to purchase vouchers in a variety of denominations. Paysafecard casinos allow players to make payments without sharing their credit card or banking details.
Online Casinos That Accept Paysafecard
What is Paysafecard?
Paysafecard is an online prepaid payment method that uses a 16-digit PIN to allow users to make online purchases without using their bank account or credit card information. Available in over 50 countries, the payment system is widely used at online casinos as it provides security and low transaction fees.
A paysafecard is free to use. Users can purchase denominations of up to C$250.
Pros and Cons of Paysafecard in Gambling
Making online purchases via PaySafecard comes with a range of pros and cons that players should consider. Here are some of the advantages and disadvantages to keep in mind.
- Pros
- Quick and easy deposits without having to share banking details
- Enhanced privacy for security-minded players
- Ideal for the budget-conscious player
- Available at many Canadian casinos
- Cons
- Some casinos do not offer withdrawals via Paysafecard
- Must purchase multiple vouchers for larger deposits
- Paysafecard depositors might be ineligible for certain bonuses
Paysafecard Legality & Regulation in Canada
Similar to other e-wallets and payment methods such as Visa, PayPal, and Interac, PaysafeCard is a regulated prepaid payment method licensed in Canada. Primarily used in the entertainment, gambling, and e-commerce sectors, all gambling activities and card purchases are governed by the provincial or territorial laws where the card was purchased.
Owned and operated by Schweiz GmbH, based in Switzerland, and regulated by the Swiss Financial Market Supervisory Authority (FINMA), Paysafecard complies with Canadian anti-money laundering and Know Your Customer regulations.
Availability in Canadian Provinces
Availability depends on local retailers and casinos’ acceptance of methods like Paysafecard, as well as on provincial laws governing online gambling.
While Paysafecard vouchers are widely available nationwide, it’s important to note that casino access may vary depending on provincial regulations, operator licensing, and the casino’s acceptance of Paysafecard as a payment method.
Paysafecard Fees, Limits & Processing Times
PaysafeCard provides transparent information about fees, limits, and processing times. Each casino has set minimum and maximum deposit limits, and Paysafecard has its own.
For Canadians, the minimum voucher amount that can be purchased at a local retailer is CA$5, and the maximum is CA$250. Players can purchase other amounts, and for those with a myPaysafe account, voucher transactions are capped at CA$400.
While Paysafe does not charge fees when purchasing a voucher, most retailers charge a nominal processing fee, and, depending on the casino, users may be subject to additional fees, though this is rare. In addition, currency conversion fees will apply if applicable, and accounts/vouchers that remain inactive for 18 months or longer will incur a maintenance fee of CA$2.50 per month.
How to Make a Deposit Using Paysafecard
Casinos that accept PaySafeCard deposits have streamlined the process so that players can add funds to their casino accounts in a timely manner. Depositing at a Paysafecard casino requires you to:
- Log in to your casino account.
- Navigate to the casino’s cashier section.
- Select “Paysafe” as the desired payment method.
- Enter your 16-digit PIN.
- Confirm the amount you wish to deposit.
- Submit your voucher for payment processing.
Bear in mind that when using your PIN, you must use the exact balance of the voucher. Likewise, if you want to use multiple voucher codes, you will need to make multiple deposits. All transactions are immediately credited to your account. Once used, your PIN will no longer be active.
How to Withdraw Winnings with Paysafecard?
Paysafecard is primarily used for deposits, meaning cash withdrawals must be processed via a different method. The most common option for most players is to withdraw funds to their bank account via Interac or another approved method available at the casino.
To withdraw winnings, you need to ensure that your account is verified and that you have met the security and KYC requirements of the casino, then follow the steps below:
- Enter your login details via the casino’s “Log in” button.
- Navigate to the casino’s banking section.
- Select Paysafecard or another available payment method as your preferred payment method.
- Enter the amount you want to withdraw.
- Click the “Withdraw” button to process your request.
Once you have submitted your withdrawal request, processing will take between 24 and 72 hours, depending on the casino. Bank transfers take up to 5 days, whereas Interac withdrawals take 24 – 48 hours.
Types of Bonuses You Can Find at Paysafecard Casinos
Almost every Paysafecard offers a variety of promotions and casino bonuses to players when they deposit funds. The best Paysafecard casinos Canada frequently offer one of the following bonus types.
Welcome bonuses
Almost every Paysafe casino offers a welcome bonus. The most common bonus type offered is one that awards a bonus based on the percentage of the offer and the amount you deposit. For the most part, a sign up bonus is 100% or more of the amount deposited, and the bonus amount is capped by the terms and conditions of the offer.
Free spins offer
Free spins offers are another type of bonus you will come across at Paysafecard casinos. Generally, this type of offer is used in conjunction with a welcome bonus and will award as few as 10 free spins or as many as 200. Likewise, they may be disbursed over a specific period.
Reload bonuses
Reload bonuses are typically reserved for repeat depositors. Granted as an incentive to deposit, a casino site will match the amount you deposit. Typically, reload bonuses range from 25% to 50%, but in some cases, they may exceed 100%.
Cashback bonuses
Paysafecard online casinos often offer existing players a cashback bonus. Typically determined by the amount you play or wager at the casino, they may be in the form of a daily or weekly bonus, or they may be awarded based on the amount wagered during a specific promotional period.
High Roller / VIP Bonuses
Less common than the other bonuses mentioned, high roller/VIP bonuses are reserved for players who deposit large sums or who are part of a casino’s VIP program. Typically, the deposit requirement for high rollers is $500 or more, and for VIPs, it may be based on their VIP status.
Paysafecard Alternatives
The best PaySafeCard casinos frequently offer a variety of funding options so players can choose the one that best suits their needs. Given that the most common alternative to Paysafecard is other e-wallets, here are several that our team of experts highly recommends.
- Muchbetter – MuchBetter is a payment alternative that Canadians can use to deposit at an online casino. A direct banking solution, it allows users to deposit funds directly from their bank. Those wishing to deposit via MuchBetter are required to create a MuchBetter account and verify their account prior to submitting a deposit request.
- Neteller – Neteller is another PaysafeCard alternative that millions of Canadians rely on to deposit funds at a casino. A fast and secure payment alternative, deposits via Neteller are instant, and withdrawal fees are minimal.
- PayPal – PayPal is an infamous ewallet that has been a favourite of many since 1998. Offering the ability to deposit and withdraw funds from online casinos in regulated Canadian markets, its fees are minimal, and its transaction times are instantaneous.
- Instadebit – Since opening in 2003, Instadebit has become a popular option for Canadians who want to deposit directly from their bank accounts. A low-cost alternative with instant transfers, it offers a wide range of features, such as enhanced security protocols, privacy controls, and identity verification.
- Neosurf – Neosurf is a prepaid voucher payment system and an excellent alternative for players who wish to deposit anonymously. Available at thousands of retailers across the country and online, players can purchase Neosurf vouchers for as little as CA$10 or as much as CA$250.
Issues Bettors Might Encounter
On occasion, bettors may experience issues when using Paysafecard at online casinos. While uncommon, transaction issues may occur for various reasons. Below is a list of potential issues bettors may encounter and how to resolve each.
- Declined transactions – If a transaction is declined, it is likely due to an incorrect PIN, or you may have failed to satisfy the KYC requirements. Check your voucher number to ensure you have entered it correctly. Alternatively, visit the My Account section to complete the KYC requirements.
- Insufficient voucher balance – One of the most common reasons for a declined transaction is insufficient funds. If your voucher balance is too low, your transaction will be declined. Check your voucher to verify your balance, or visit your nearest Paysafecard retailer to top up your account.
- Exceeding deposit limits – Exceeding deposit limits is another issue that will result in a declined transaction. Paysafecard has a maximum transactional limit of CA$250 per transaction. If the amount you attempted to deposit exceeds this amount, resubmit your deposit request for a lower amount.
- Currency mismatch – If you attempt to deposit in a currency other than CAD, your deposit will be rejected. Verify that the casino accepts CAD, or that you have selected Canadian dollars as your preferred currency, before resubmitting your deposit request.
- Expired or inactive PINs – Another reason bettors may experience issues when transacting via Paysafecard. You must use PaySafeCards within 30 days of purchase. If your card has expired, you can contact Paysafecard to request a refund.
Conclusion
Paysafecard is a safe, reliable, and convenient way for budget-conscious players to fund their gambling activities. Widely accepted at hundreds of Canadian-friendly online casinos, purchasing Paysafecard vouchers is easy. Furthermore, the minimum amounts and the fees charged by merchants are sensible.
FAQ
Are there any fees and limits for deposits and withdrawals via Paysafecard?
Yes, there are fees for deposits and withdrawals via Paysafecard. They vary depending on whether you purchase a prepaid voucher or deposit via a myPaysafecard account.
Are Paysafecard deposits instant at online casinos?
Yes, online casinos process Paysafecard deposits instantly within 10-20 seconds of deposit submission.
How fast are withdrawals with Paysafecard?
Typically, most online casinos do not process withdrawals via Paysafecard. It takes between 24 and 48 hours for your winnings to be transferred, regardless of the payment method used.
How secure are transactions with Paysafecard in online casinos?
All Paysafecard transactions are processed securely using advanced encryption software similar to that used by financial institutions worldwide.
Where can I buy Paysafecard in Canada?
You can buy PaysafeCards in Canada via an authorized retailer such as Canada Post, your local convenience store, or any other retailer that sells prepaid cards.
Can I use multiple Paysafecard vouchers for one deposit?
No, you may only use one Paysafecard voucher at a time. To use multiple Paysafecard vouchers, you will need to make multiple deposits.